Charles Schwab Investment Management Inc. Has $123.99 Million Stock Position in Jabil Inc. (NYSE:JBL)

Charles Schwab Investment Management Inc. lessened its stake in Jabil Inc. (NYSE:JBL) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,034,672 shares of the technology company’s stock after selling 39,374 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Jabil were worth $123,985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JBL. Pacer Advisors Inc. lifted its stake in Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after acquiring an additional 2,188,521 shares during the last quarter. Primecap Management Co. CA lifted its stake in Jabil by 0.3% in the 3rd quarter. Primecap Management Co. CA now owns 3,692,560 shares of the technology company’s stock valued at $442,479,000 after purchasing an additional 9,685 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Jabil during the third quarter worth about $196,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Jabil by 2,750.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 110,701 shares of the technology company’s stock valued at $13,265,000 after buying an additional 106,818 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Jabil by 2.9% in the third quarter. PNC Financial Services Group Inc. now owns 35,734 shares of the technology company’s stock valued at $4,282,000 after buying an additional 1,013 shares during the last quarter. 93.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JBL shares. JPMorgan Chase & Co. decreased their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Bank of America increased their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Stifel Nicolaus upped their price target on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Barclays increased their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Jabil Trading Up 2.2 %

Shares of JBL stock opened at $134.03 on Tuesday. The stock has a market cap of $15.12 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The stock has a 50 day simple moving average of $124.39 and a 200 day simple moving average of $115.92.

Jabil (NYSE:JBL) last released its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same period in the prior year, the company posted $2.34 EPS. The company’s revenue was down 17.7% compared to the same quarter last year. On average, research analysts predict that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio is currently 2.90%.

Insider Transactions at Jabil

In other news, SVP Francis Mckay sold 11,755 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the transaction, the senior vice president now owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now directly owns 139,108 shares in the company, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,689 shares of company stock valued at $5,377,431. Company insiders own 2.62% of the company’s stock.

About Jabil

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).